Exhibit 99.1
(AIRVANA LOGO )
Airvana Reports Third-Quarter Financial Results
Third-quarter 2008 Billings increase 39% over third-quarter 2007 Billings to $43.0 million
CHELMSFORD, Mass., October 30, 2008
— Airvana, Inc. (NASDAQ: AIRV), a leading provider of mobile broadband network infrastructure products, today reported financial results for the third quarter ended September 28, 2008. Airvana presents both GAAP and non-GAAP financial metrics below because management believes the combination provides a more complete understanding of Airvana’s operating performance.
GAAP Financial Highlights
  Revenue: Total revenue for the third quarter of 2008 was $8.2 million, compared with $3.6 million in the third quarter of 2007. For the first nine months of 2008, total revenue was $74.9 million, compared with $160.2 million for the first nine months of 2007.
 
  Net Income/Loss: Net loss for the third quarter of 2008 was $12.4 million, compared with net loss of $18.2 million for the third quarter of 2007. For the first nine months of 2008, net loss was $3.6 million, compared with net income of $49.1 million for the first nine months of 2007.
Non-GAAP Financial Highlights
  Product and Service Billings (“Billings”): On a non-GAAP basis, Billings for the third quarter of 2008 increased 39% to $43.0 million from $30.8 million for the third quarter of 2007. This growth reflects increased EV-DO Billings, driven by an increased number of shipments of Radio Network Controllers (RNCs) and operator deployments of Airvana’s June 2008 software release 6.0. For the first nine months of 2008, Billings were $107.1 million as compared to $108.8 million for the first nine months of 2007.
 
  Gross Profit on Billings: On a non-GAAP basis, Airvana’s gross profit on Billings for the third quarter of 2008 increased 38% to $39.3 million from $28.5 million for the third quarter of 2007. This growth was primarily driven by increased EV-DO Billings in the third quarter of 2008. For the first nine months of 2008, gross profit on Billings was $97.8 million, compared with $102.6 million for the first nine months of 2007.
 
  Operating Profit on Billings: On a non-GAAP basis, Airvana’s operating profit on Billings for the third quarter of 2008 increased to $14.3 million from $3.3 million for the third quarter of 2007. For the first nine months of 2008, Airvana incurred operating profit on Billings of $23.7 million, compared with $31.5 million for the first nine months of 2007.
A description of Airvana’s revenue-recognition policy, which results in significant variability in reported revenue from quarter to quarter, and its non-GAAP financial measures is included in this press release.
Comments on the Third Quarter
“As we expected, Airvana returned to billings growth in the third quarter, both sequentially and compared to the prior year period,” said President and Chief Executive Officer Randy Battat. “Our EV-DO Billings continue to be driven by increased broadband data traffic on operator networks, which has been fueled by greater use of e-mail, web browsing and 3G multimedia applications used on handsets and laptops. Despite the weakness of the overall global economy, operators are continuing to invest in network coverage and

 


The following information was filed by Airvana Inc on Thursday, October 30, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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